JMG Corp Appoints Neerav Bairagi as MD, Reconstitutes Board Post-Takeover
JMG Corporation Ltd has announced a significant management overhaul following a successful takeover. The Board of Directors was reconstituted, effective April 27, 2026. Mr. Neerav Bairagi has been appointed as an Additional Director and subsequently as the Managing Director, subject to shareholder approval. Ms. Maya Bairagi, Mr. Rahul Singh Jadaun, and Mr. Yashasvi Prateek were also appointed as Additional Directors, with Mr. Manprakash Verma named Chief Financial Officer. Concurrently, the previous Chairman and Managing Director, Mr. Atul Kumar Mishra, along with several other directors and key managerial personnel, including the CFO and Company Secretary, have resigned. Additionally, the Board approved the termination of a Joint Development Agreement with AR Challenges Ltd., Israel, for an MSW to Power Project, citing prolonged Force Majeure conditions due to geopolitical instability. This termination is not expected to have a material financial impact.
Key Highlights
- Neerav Bairagi appointed as Managing Director, subject to shareholder approval.
- Board of Directors reconstituted following a successful company takeover.
- Multiple new directors and a new Chief Financial Officer appointed.
- Previous Chairman, MD, and several directors/KMPs have resigned.
- Joint Development Agreement for a power project terminated due to geopolitical instability.